News Commentary

The Trillion Dollar Coin Is a Great Idea!

"Today, unlike in the past, over 150 central banks print money recklessly. The Federal Reserve is surely the worst offender because of the dollar's reserve status. Because nations need dollars to buy oil, officials around the world need to hold dollars. The US can print massively without feeling the immediate result from price inflation. Of course, price inflation happens – and is happening. More is yet to come because US officials have been so reckless. That's why I think the trillion dollar coin idea is a good one. It illustrates the insanity of the modern money system where people accept bits of paper as money simply because they've been printed by the government." Continue reading →

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Nigel Farage: This Is My Greatest Worry As We Head Into 2013

"What really has me worried, and this may go beyond 2013, but I think the one thing that is going to change is we’ve been through a period, since 2008, of interest rates being virtually zero. During that period of time, governments have racked up vast, vast amounts of debt, and are continuing to run huge budget deficits. And I think we are going to be heading into a world of rising interest rates. That is when our governments, who are continuing to run these deficits, are going to be in real, real trouble...." Continue reading →

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Enhance Public Safety: Disarm the Police!

"The arrogance and irresponsibility displayed by law enforcement personnel in these cases – and thousands just like them – demonstrate beyond serious dispute that public safety would be enhanced if we were to disarm the police. Armed members of the productive class are busy earning the wealth plundered to pay the police; we shouldn’t be expected to track down the guns they allow to fall into the hands of private sector criminals." Continue reading →

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America’s Platinum Express

"Even if you are Scott Sumner himself, you should be very alarmed when you’ve now got arguably the most prominent economist on Earth arguing that the government should start paying its bills with coupons that are then monetized by the Fed. That is just the barest step removed from having the Fed literally create new money to cover the government’s spending. Forget the macroeconomics for a second. Surely there is the faintest hint of Public Choice economics buried in the souls of the market monetarists. Can we all agree that Krugman’s flippant remarks above are downright alarming?" Continue reading →

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Case Against Kim Dotcom Copyright Infringement Continues to Weaken

"This is the man US and Hollywood officials decided to make an example of. Interestingly, they were victims of the same persona that Dotcom has used successfully throughout his career. A man who so thoroughly advertised his affection for fast cars, large yachts, beautiful women and military video games was someone who surely could not be taken seriously. It was inconceivable to these intelligence agents and military men that someone as obviously undisciplined as Kim Dotcom would pose a 'hard target.' Surely he would fold immediately on feeling the boot upon his neck. And this misjudgment was only one of a series." Continue reading →

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Detlev Schlichter: It’s a mad mad mad mad world

"Shinzo Abe, Japan’s new prime minister, has some exciting new ideas about how to make Japan’s economy grow. How about the government borrows a lot of money and spends it on building bridges and roads all over the country? If that doesn’t sound so new, it is because it isn’t. It is what Japan has been doing for 20 years, and it is the main reason why Japan is now the most heavily indebted nation on the planet. But never mind. The Keynesians agree that this policy was a roaring success, and that this is why the country needs more of it. Mr. Abe also plans to force the Bank of Japan into printing more money, and this is surely going to be a great success, too." Continue reading →

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5 Urgent Questions for 2013

"No matter what Washington does at the 11th hour tonight, we end the year with one, absolutely indisputable, conclusion: The mammoth U.S. debt monster is not going away. It’s continuing to grow. And in early 2013, it will return to haunt the White House, Congress and the Fed in a great, new debt ceiling debate! Here are the hard facts." Continue reading →

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Obama’s Killer Sense of “Humor”

"Referring to what he called the 'real reason' why he wanted a second term in office, Obama declared: 'One of the main incentives of running was continued Secret Service protection so we can have men with guns around at all times' when his teenage daughters begin dating. That line was a sample of the same tone-deaf sense of humor that inspired his speech-writers to load a supposed thigh-slapper about drone attacks into Obama’s teleprompter for the May 1, 2010 White House Correspondents Dinner." Continue reading →

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The Invisible Hand Strikes Back

"The system proved a good deal more fragile than people have been led to expect. Couple that with the Fed's ongoing money-printing that has literally doubled equity values and you get increasing resistance to the whole idea of stock investing. First people are frightened by the breakdown of the system itself and then they are exposed to ongoing – 'industrial strength' – monetary manipulation. What do those in the industry expect? What do elites that have built up the modern stock market believe people will do with their money? People 'get it' ... and not in a good way." Continue reading →

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The Continuing Exodus of Jobs – and Taxable Income – from California

"I wish I could be a fly on the wall when this moment of truth happens to California politicians. They convinced voters in the state to enact Prop 30, a huge tax increase targeting those evil, awful, bad rich people. Governor Brown and his fellow kleptocrats in Sacramento doubtlessly are salivating at the thought of more money to waste. But notwithstanding a satirical suggestion from Walter Williams, there aren’t guard towers and barbed-wire fences surrounding the state. Productive people can leave, and that’s happening every day. And they take their taxable income with them." Continue reading →

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